The Deal Atlas
By Stephen Brownell · A Settingstone Legal Companion
No pass
The map room · Three plates · Free

Understand the deal before you run it.

Each plate draws one legal territory as a single map you descend into — the deal in one sentence at orbit, its forces as continents, the documents at street level. You cannot enter a territory without guessing first, every landmark lights up its wires when you click it, and one hazard on each map wears coral. Then the Viva examines you on what you learned.

Plates and their reference companions are free, with no registration. The Viva — the graded oral examination — opens its first question free on every plate; the full sitting needs the Atlas Pass.

The plates

Three territories, drawn to be descended.

Each plate is an eight-checkpoint route that is immutable once published; when the law moves, a dated revision box is appended to the landmark it touched, and you are quizzed under the old rule before the new one is revealed. Your progress on each plate is kept in this browser.

Plate I · Distributed solar

Anatomy of a C&I Solar Deal

One roof. One machine. One promise to buy power.

The Project CompanyThe SiteThe MachineThe OfftakeThe CapitalThe State

19 documents at street level · 8 checkpoints · Coral hazard: the SNDA — the whole capital stack stands on a leasehold that a landlord's earlier-recorded mortgage can extinguish.

  • The Offtaker Goes Dark
  • The Roof Has a Mortgage
  • The Recapture Window
Not started

Operationalize it → Lease / Land Control, EPC Contract, Proof

Plate II · Trading desks

The Master Agreements: ISDA · EEI · NAESB

One contract. A thousand trades. One net number.

The Single AgreementThe PaperThe TradeThe CreditThe ExitThe Rosetta

Three families, one architecture · 8 checkpoints · Coral hazard: Close-Out & Valuation — one shot, maximum stress, permanent record.

  • The Downgrade
  • The Phantom Trade
  • The Bankruptcy Weekend
Not started

Operationalize it → Trading Agreements Desk, Counterparty

Plate III · Tax equity

Sale-Leaseback Tax Equity Financing

Sell the machine. Keep the business. Rent the difference.

Tax OwnershipThe SaleThe LeaseThe TaxThe ProjectThe Menu

Four structures compared · 8 checkpoints · Coral hazard: True-Lease Status — recharacterization is retroactive, and it is baked in at drafting.

  • The Missed Window
  • The Broken Roof
  • The Buyout Decision
Not started

Operationalize it → Tax Equity & Financing Closing

How the Atlas teaches

Spatial memory, prediction error, and one dragon per map.

The Atlas is built on the retention science rather than on the reading experience. Six mechanics, each doing a specific job.

01 · Altitude

Altitude is abstraction

Zooming is the table of contents. The deal in one sentence at orbit; its forces as continents; the documents at street level. Every document is anchored to a place, which is what the method of loci has always done for memory.

02 · Wires

Wire tracing

Click any landmark and its connections light up, labeled, across four systems you can switch on and off. The connections are the understanding — no document-by-document review shows them.

MoneyRiskConsentClocks
03 · Gates

Guess before reveal

You cannot enter a territory without committing to an answer first. The engine never shows a rule before you predict it, because the miss is the mnemonic: prediction error is the strongest retention signal there is.

04 · Hazard

One coral hazard

Exactly one landmark on each map wears coral, visible from every altitude. Here be dragons, on a real map: the one failure mode that is unfixable after the fact, and therefore the one to price or refuse before signing.

05 · Expeditions

Deal drills

Three scenarios per plate, walked landmark to landmark across the map: the offtaker goes dark, the counterparty is downgraded on a Friday, the roof is in foreclosure in year two. Each step is a guess, then the reveal.

06 · Revisions

Dated revision boxes

Routes are immutable once published. When the law moves, a dated box is appended to the landmark it touched; you are quizzed under the old rule, then shown the change. The changelog is the pedagogy, and the versioning.

The examination

The Viva: say it in your own words.

Multiple choice proves recognition. The Viva asks for recall and reasoning: eight free-response questions per plate, walking the same checkpoint route, each graded by an examiner that holds the plate's grading key and answers the way a partner debriefs an associate.

How a sitting runs

  • Pick a plate. The eight questions follow its route from orbit to summit.
  • Answer each in your own words — the mechanism, not the term. A few sentences is right; a page is not.
  • The examiner returns a score out of ten, what you got, what you missed stated as the rule itself, a GC gloss, and the sharper follow-up a partner would ask next.
  • Your sitting is saved in this browser. Finish all eight and you get a completion record you can print for your own study file.
  • Answer from the map. The Viva is about the plate's fictional territory — never type real deal facts or client names.
“Run the wire test. Which single document, failing, drops the most wires on the map — and why does the coral hazard sit on a different document than that one?”
Sit the Viva →Question 1 of every plate is free. The full sitting needs the Pass.

What the grading key is

Every plate's eight questions carry a private key: the points a strong answer must contain and the misses that a competent lawyer answering from memory tends to make. The key never leaves the server — you receive the judgment, not the rubric — which is the same design principle as the GC Review across the Settingstone tools.

Grades are teaching generalizations against the plate's stated baseline, not advice about any transaction. Your answer is sent for grading and not stored.

Checking for a pass in this browser…
The Atlas Pass

One pass, every sitting.

The plates stay free — they are the point of the Atlas, and the reason it is worth examining yourself on. The Pass opens the examination.

What the Pass opens

  • Every Viva sitting on every plate, including plates drawn after you buy, for the term of the pass.
  • Completion records for each sitting, printable for your own study file.
  • Whatever else the Pass opens next during your term, at no additional charge.

Checking whether the Pass is open…

How it works, plainly

Checkout runs on Stripe; this site never sees your card. When Stripe sends you back, the Atlas confirms the purchase with Stripe and issues a signed pass to this browser — no account, no password. The pass is tied to the email you gave at checkout, and you can restore it on another device from that checkout receipt or the pass page.

Firms wanting seats for a group, and readers with an invitation code, redeem on the pass page. The terms cover the pass in a few paragraphs.

Kept current

The changelog is the pedagogy.

Each plate is watched by a revision monitor that reads the relevant guidance, case law, and industry forms on a schedule and proposes a dated revision when something moves. Nothing is applied until the author has validated it. The revision boxes now on the maps:

EffectivePlate · landmarkWhat moved
Aug. 15, 2025Plate I · ITC & Safe Harbor FileIRS Notice 2025-42 — the dual-track beginning-of-construction framework replaces the 5% safe harbor for most projects.
July 4, 2025Plate I · Equipment SupplyP.L. 119-21 (OBBBA) — prohibited-foreign-entity and material-assistance rules enter the supply chain with statutory dates.
July 4, 2025Plate III · The 3-Month WindowP.L. 119-21 (OBBBA) — the placed-in-service cliff for solar credits.
July 4, 2025Plate III · DepreciationP.L. 119-21 (OBBBA) — 100% bonus depreciation restored.
Aug. 16, 2022Plate III · §6418 TransferP.L. 117-169 (IRA) — direct transfer of the credit joins the structuring menu.
Oct. 4, 2021Plate II · The DefinitionsISDA 2021 Interest Rate Derivatives Definitions — digital-first, continuously versioned.
Jan. 25, 2021Plate II · The ConfirmationISDA IBOR Fallbacks Supplement & Protocol — legacy trades re-papered by adherence.
Plate I monitorWeekly. Watches beginning-of-construction guidance, FEOC and material-assistance rules, §6418, recapture, prevailing wage and apprenticeship, and §§48E/45Y legislation.
Plate II monitorMonthly. Watches close-out, netting, and safe-harbor case law; ISDA, EEI, and NAESB form and definitions publications; margin and benchmark regulation.
Plate III monitorMonthly. Watches §§48/48E/50/6418 guidance and OBBBA implementation, true-lease and basis case law, bonus depreciation, and §467.
The loop

The Atlas teaches the deal. Settingstone operationalizes it.

Every card on a map ends with a link into the matching tool on Settingstone Legal, and the tools link back to the map. Understand, then run.

New plates

Hear when the next plate is drawn.

One email when a plate, a sitting, or a validated revision lands. No newsletter filler.